UNITED STATES
                        SECURITIES EXCHANGE COMMISSION
                            Washington, D.C. 20549

------------------------------------------------------------------------------


                                 SCHEDULE 13G

                   Under the Securities Exchange Act of 1934
                               (Amendment No. 1)

                        STONE ARCADE ACQUISITION CORP.
                        ------------------------------
                               (Name of Issuer)


                   Common Stock, $.0001 par value per share
         -------------------------------------------------------------
                        (Title of Class of Securities)


                                   861575108
                      -----------------------------------
                                (CUSIP Number)


                                December 31, 2006
                     -------------------------------------
            (Date of Event which Requires Filing of this Statement)


Check  the  appropriate  box to  designate  the rule  pursuant  to which  this
Schedule is filed:

                               [X] Rule 13d-1(b)

                               [ ] Rule 13d-1(c)

                               [ ] Rule 13d-1(d)

* The  remainder  of this  cover  page  shall be  filled  out for a  reporting
person's  initial  filing on this form with  respect to the  subject  class of
securities,  and for any subsequent  amendment  containing  information  which
would alter the disclosures provided in a prior cover page.

The  information  required  in the  remainder  of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities  Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however,  see
the Notes).


                         Continued on following pages
                               Page 1 of 11 Pages





                                 SCHEDULE 13G

CUSIP No.: 861575108                                         Page 2 of 11 Pages


------------------------------------------------------------------------------
1.    Names of Reporting Persons.
      I.R.S. Identification Nos. of above persons (entities only).

      MAGNETAR FINANCIAL LLC
------------------------------------------------------------------------------
2.    Check the Appropriate Box if a Member of a Group
      (a) [ ]
      (b) [ ]
------------------------------------------------------------------------------
3.    SEC Use Only
------------------------------------------------------------------------------
4.    Citizenship or Place of Organization

      Delaware
------------------------------------------------------------------------------
Number of           5.       Sole Voting Power                  2,550,000
Shares              ----------------------------------------------------------
Beneficially        6.       Shared Voting Power                0
Owned by Each       ----------------------------------------------------------
Reporting           7.       Sole Dispositive Power             2,550,000
Person With         ----------------------------------------------------------
                    8.       Shared Dispositive Power           0
------------------------------------------------------------------------------
9.    Aggregate Amount Beneficially Owned by Each Reporting Person

      2,550,000
------------------------------------------------------------------------------
10.   Check if the Aggregate  Amount in Row (9) Excludes  Certain  Shares (See
      Instructions)

      [  ]
------------------------------------------------------------------------------
11.   Percent of Class Represented by Amount in Row (9)

      9.53% based on 26,759,500 shares outstanding as of March 21, 2006./1/
------------------------------------------------------------------------------
12.   Type of Reporting Person:

      IA; OO

-----------------------
/1/ This  figure  includes an amount of Shares  that the  Reporting  Person is
entitled to obtain upon exercise of warrants.




                                 SCHEDULE 13G

CUSIP No.: 861575108                                         Page 3 of 11 Pages


------------------------------------------------------------------------------
1.    Names of Reporting Persons.
      I.R.S. Identification Nos. of above persons (entities only).

      MAGNETAR CAPITAL PARTNERS LP
------------------------------------------------------------------------------
2.    Check the Appropriate Box if a Member of a Group
      (a) [ ]
      (b) [ ]
------------------------------------------------------------------------------
3.    SEC Use Only
------------------------------------------------------------------------------
4.    Citizenship or Place of Organization

      Delaware
------------------------------------------------------------------------------
Number of           5.       Sole Voting Power                  0
Shares              ----------------------------------------------------------
Beneficially        6.       Shared Voting Power                2,550,000
Owned by Each       ----------------------------------------------------------
Reporting           7.       Sole Dispositive Power             0
Person With         ----------------------------------------------------------
                    8.       Shared Dispositive Power           2,550,000
------------------------------------------------------------------------------
9.    Aggregate Amount Beneficially Owned by Each Reporting Person

      2,550,000
------------------------------------------------------------------------------
10.   Check if the Aggregate  Amount in Row (9) Excludes  Certain  Shares (See
      Instructions)

      [  ]
------------------------------------------------------------------------------
11.   Percent of Class Represented by Amount in Row (9)

      9.53% based on 26,759,500 shares outstanding as of March 21, 2006./1/
------------------------------------------------------------------------------
12.   Type of Reporting Person:

      HC; OO

-----------------------
/1/ This  figure  includes an amount of Shares  that the  Reporting  Person is
entitled to obtain upon exercise of warrants.





                                 SCHEDULE 13G

CUSIP No.: 861575108                                         Page 4 of 11 Pages


------------------------------------------------------------------------------
1.    Names of Reporting Persons.
      I.R.S. Identification Nos. of above persons (entities only).

      SUPERNOVA MANAGEMENT LLC
------------------------------------------------------------------------------
2.    Check the Appropriate Box if a Member of a Group
      (a) [ ]
      (b) [ ]
------------------------------------------------------------------------------
3.    SEC Use Only
------------------------------------------------------------------------------
4.    Citizenship or Place of Organization

      Delaware
------------------------------------------------------------------------------
Number of           5.       Sole Voting Power                  0
Shares              ----------------------------------------------------------
Beneficially        6.       Shared Voting Power                2,550,000
Owned by Each       ----------------------------------------------------------
Reporting           7.       Sole Dispositive Power             0
Person With         ----------------------------------------------------------
                    8.       Shared Dispositive Power           2,550,000
------------------------------------------------------------------------------
9.    Aggregate Amount Beneficially Owned by Each Reporting Person

      2,550,000
------------------------------------------------------------------------------
10.   Check if the Aggregate  Amount in Row (9) Excludes  Certain  Shares (See
      Instructions)

      [  ]
------------------------------------------------------------------------------
11.   Percent of Class Represented by Amount in Row (9)

      9.53% based on 26,759,500 shares outstanding as of March 21, 2006./1/
------------------------------------------------------------------------------
12.   Type of Reporting Person:

      HC; OO

-----------------------
/1/ This  figure  includes an amount of Shares  that the  Reporting  Person is
entitled to obtain upon exercise of warrants.





                                 SCHEDULE 13G

CUSIP No.: 861575108                                         Page 5 of 11 Pages


------------------------------------------------------------------------------
1.    Names of Reporting Persons.
      I.R.S. Identification Nos. of above persons (entities only).

      ALEC N. LITOWITZ
------------------------------------------------------------------------------
2.    Check the Appropriate Box if a Member of a Group
      (a) [ ]
      (b) [ ]
------------------------------------------------------------------------------
3.    SEC Use Only
------------------------------------------------------------------------------
4.    Citizenship or Place of Organization

      United States of America
------------------------------------------------------------------------------
Number of           5.       Sole Voting Power                  0
Shares              ----------------------------------------------------------
Beneficially        6.       Shared Voting Power                2,550,000
Owned by Each       ----------------------------------------------------------
Reporting           7.       Sole Dispositive Power             0
Person With         ----------------------------------------------------------
                    8.       Shared Dispositive Power           2,550,000
------------------------------------------------------------------------------
9.    Aggregate Amount Beneficially Owned by Each Reporting Person

      2,550,000
------------------------------------------------------------------------------
10.   Check if the Aggregate  Amount in Row (9) Excludes  Certain  Shares (See
      Instructions)

      [  ]
------------------------------------------------------------------------------
11.   Percent of Class Represented by Amount in Row (9)

      9.53% based on 26,759,500 shares outstanding as of March 21, 2006./1/
------------------------------------------------------------------------------
12.   Type of Reporting Person:

      HC

-----------------------
/1/ This  figure  includes an amount of Shares  that the  Reporting  Person is
entitled to obtain upon exercise of warrants.





                                                             Page 6 of 11 Pages


Item 1(a).  Name of Issuer:

            Stone Arcade Acquisition Corp. (the "Issuer")

Item 1(b).  Address of Issuer's Principal Executive Offices:

            c/o Stone-Kaplan  Investments,  LLC, One North  Plainfield  Plaza,
Suite 480,  Northfield, Illinois, 60093.

Item 2(a).  Name of Person Filing:

            This Statement is filed on behalf of each of the following persons
(collectively, the "Reporting Persons"):


            i)   Magnetar Financial LLC ("Magnetar Financial");

            ii)  Magnetar Capital Partners LP ("Magnetar Capital Partners");

            iii) Supernova Management LLC ("Supernova Management"); and

            iv)  Alec N. Litowitz ("Mr. Litowitz").

            This Statement  relates to Shares (as defined  herein) and certain
warrants to purchase  Shares held for the accounts of Magnetar  Capital Master
Fund, Ltd, a Cayman Islands exempted company ("Magnetar Capital Master Fund").
Magnetar Capital Partners serves as the sole member and parent holding company
of Magnetar Financial.  Magnetar Financial is a registered  investment adviser
under Section 203 of the Investment Advisers Act of 1940, as amended. Magnetar
Financial  serves as investment  adviser to Magnetar  Capital  Master Fund. In
such capacity,  Magnetar Financial  exercises voting and investment power over
the Shares held for the account of Magnetar  Capital  Master  Fund.  Supernova
Management is the general partner of Magnetar Capital Partners. The manager of
Supernova Management is Mr. Litowitz.

Item 2(b).  Address of Principal Business Office or, if None, Residence:

            The address of the principal  business  office of each of Magnetar
Financial,  Magnetar Capital Partners,  Supernova Management, and Mr. Litowitz
is 1603 Orrington Avenue, 13th Floor, Evanston, Illinois 60201.


Item 2(c).  Citizenship:

            i)   Magnetar Financial is a Delaware limited liability company;

            ii)  Magnetar Capital Partners is a Delaware limited partnership;

            iii) Supernova Management is a Delaware limited liability company;
            and






                                                             Page 7 of 11 Pages


            iv)  Mr. Litowitz is a citizen of the United States of America.

Item 2(d).  Title of Class of Securities:

            Common Stock, $.0001 par value per share (the "Shares")

Item 2(e).  CUSIP Number:

            861575108

Item 3.     If This  Statement  is Filed  Pursuant  to  ss.ss.240.13d-1(b)  or
            240.13d-2(b) or (c), Check Whether the Person Filing is a:


            (a) [ ]     Broker or dealer  registered  under  Section 15 of the
                        Exchange Act.
            (b) [ ]     Bank as  defined in  Section  3(a)(6) of the  Exchange
                        Act.
            (c) [ ]     Insurance  company as defined in Section  3(a)(19)  of
                        the Exchange Act.
            (d) [ ]     Investment  company  registered under Section 8 of the
                        Investment Company Act.
            (e) [X]     An  investment   adviser  in   accordance   with  Rule
                        13d-1(b)(1)(ii)(E);
            (f) [ ]     An  employee   benefit  plan  or  endowment   fund  in
                        accordance with Rule 13d-1(b)(1)(ii)(F).
            (g) [ ]     A  parent   holding   company  or  control  person  in
                        accordance with Rule 13d-1(b)(1)(ii)(G).
            (h) [ ]     A savings  association  as defined in Section  3(b) of
                        the Federal Deposit Insurance Act.
            (i) [ ]     A church plan that is excluded from the  definition of
                        an investment  company  under Section  3(c)(14) of the
                        Investment Company Act.


Item 4.     Ownership:

Item 4(a)   Amount Beneficially Owned:

            As of  February  5, 2007,  each of  Magnetar  Financial,  Magnetar
Capital  Partners,  Supernova  Management and Mr. Litowitz may be deemed to be
the beneficial owner of: (i) 790,500 Shares and (ii) 1,759,500 Shares issuable
upon the conversion of warrants held for the accounts of the Magnetar  Capital
Master Fund.

Item 4(b)   Percent of Class:

            (i) The  number  of Shares of which  each of  Magnetar  Financial,
Magnetar Capital Partners, Supernova Management and Mr. Litowitz may be deemed
to be the beneficial owner constitutes approximately 9.53% the total number of
Shares outstanding [based upon information  provided by the Issuer in its most
recently filed requistration  statement on Form 10-Q, there were approximately
26,759,500 shares as of March 21, 2006)./1/


-----------------------
/1/ This  figure  includes an amount of Shares  that the  Reporting  Person is
entitled to obtain upon exercise of warrants.




                                                             Page 8 of 11 Pages


Item 4(c)   Number of Shares of which such person has:

Magnetar Financial:
-------------------

(i) Sole power to vote or direct the vote:                            2,550,000

(ii) Shared power to vote or direct the vote:                                 0

(iii) Sole power to dispose or direct the disposition of:             2,550,000

(iv) Shared power to dispose or direct the disposition of:                    0


Magnetar Capital Partners, Supernova Management, and Mr. Litowitz:
------------------------------------------------------------------------------

(i) Sole power to vote or direct the vote:                                    0

(ii) Shared power to vote or direct the vote:                         2,550,000

(iii) Sole power to dispose or direct the disposition of:                     0

(iv) Shared power to dispose or direct the disposition of:            2,550,000

Item 5.     Ownership of Five Percent or Less of a Class:

            This Item 5 is not applicable.

Item 6.     Ownership of More than Five Percent on Behalf of Another Person:

            This Item 6 is not applicable.

Item 7.     Identification and Classification of the Subsidiary Which Acquired
            the Security Being Reported on By the Parent Holding Company:

            See disclosure in Item 2 hereof.

Item 8.     Identification and Classification of Members of the Group:

            This Item 8 is not applicable.

Item 9.     Notice of Dissolution of Group:

            This Item 9 is not applicable.

Item 10.    Certification:

            By signing below each of the Reporting  Persons certifies that, to
the best of their knowledge and belief, the securities  referred to above were
not  acquired  and are not  held for the  purpose  of or with  the  effect  of
changing or  influencing  the control of the issuer of the securities and were
not acquired and are not held in connection  with or as a  participant  in any
transaction having that purpose or effect.






                                                             Page 9 of 11 Pages


                                   SIGNATURE

      After  reasonable  inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

Date: February 14, 2007              MAGNETAR FINANCIAL LLC

                                     By:   Magnetar Capital Partners LP
                                           As Sole Member


                                     By:   /s/ Alec N. Litowitz
                                           ----------------------------
                                     Name:   Alec N. Litowitz
                                     Title:  Manager of  Supernova  Management
                                             LLC, as General Partner of Magnetar
                                             Capital Partners LP


Date: February 14, 2007              MAGNETAR CAPITAL PARTNERS LP


                                     By:   /s/ Alec N. Litowitz
                                           ----------------------------
                                     Name:   Alec N. Litowitz
                                     Title:  Manager of  Supernova  Management
                                             LLC, as General Partner of Magnetar
                                             Capital Partners LP

Date: February 14, 2007              SUPERNOVA MANAGEMENT LLC


                                     By:   /s/ Alec N. Litowitz
                                           ----------------------------
                                     Name:   Alec N. Litowitz
                                     Title:  Manager

Date: February 14, 2007              ALEC N. LITOWITZ

                                     /s/ Alec N. Litowitz
                                     --------------------



                                                           Page 10 of 11 Pages


                                 EXHIBIT INDEX


Ex.                                                                 Page No.
---                                                                 --------
A.       Joint Filing  Agreement,  dated February 14, 2007 by and
         among Magnetar  Financial LLC, Magnetar Capital Partners
         LP, Supernova Management LLC, and Alec N. Litowitz......     12



                                                           Page 11 of 11 Pages

                                   EXHIBIT A

                            JOINT FILING AGREEMENT

      The  undersigned  hereby  agree that the  statement on Schedule 13G with
respect to the Common Stock of Red Robin  Gourmet  Burgers,  Inc.  dated as of
February 14, 2007 is, and any  amendments  thereto  (including  amendments  on
Schedule 13D) signed by each of the  undersigned  shall be, filed on behalf of
each of us pursuant to and in accordance  with the provisions of Rule 13d-1(k)
under the Securities Exchange Act of 1934, as amended.

Date: February 14, 2007                     MAGNETAR FINANCIAL LLC

                                            By: Magnetar Capital Partners LP
                                                   As Sole Member

                                            By:  /s/ Alec N. Litowitz
                                                 --------------------
                                            Name:  Alec N. Litowitz
                                            Title: Manager     of     Supernova
                                                   Management  LLC,  as  General
                                                   Partner of  Magnetar  Capital
                                                   Partners LP


Date: February 14, 2007                     MAGNETAR CAPITAL PARTNERS LP


                                            By:  /s/ Alec N. Litowitz
                                                 --------------------
                                            Name:  Alec N. Litowitz
                                            Title: Manager     of     Supernova
                                                   Management  LLC,  as  General
                                                   Partner of  Magnetar  Capital
                                                   Partners LP

Date: February 14, 2007                     SUPERNOVA MANAGEMENT LLC


                                            By:  /s/ Alec N. Litowitz
                                                 --------------------
                                            Name:  Alec N. Litowitz
                                            Title: Manager

Date: February 14, 2007                     ALEC N. LITOWITZ


                                            /s/ Alec N. Litowitz
                                            --------------------